Two bidders for Indonesian tower assets
Two investment firms, Saratoga Capital and Recapital are reported to be interested in buying the tower assets currently owned by Indonesian mobile operator Excelcomindo Pratama (XL). The country’s third largest mobile operator currently owns over 7,000 base stations, which it values at some US$550 million.
The company’s Extraordinary General Meeting of Shareholders convened on Wednesday, 3rd September 2008, approved the Company’s plan to execute the sale of the Company’s assets which are maximum 7,000 telecommunication towers along with infrastructures and facilities related to such telecommunication towers.
The two firms are said to be interested in setting up a joint consortium, Indonusa - and will follow the usual model of then subletting the towers to other telecoms operators.
[Sources: Cellular News, Excelcom | Photo credit]
September 17th, 2008 at 12:25 pm
wow nice info, the XL coverage wider than now. I glad being a XL customer.
But, where’s the local company? I consider too much foreign investment company in here.